There is a need for a portable device that may read information encoded on a purchasing instrument. For example, a travelling salesperson may wish to complete a sale at a customer location. Completing the sale at the customer location may allow a product to be transferred to the customer at the location of the customer. Completing the sale at the customer location may allow the salesperson to receive payment for the product at the location of the customer.
To complete a sale using a credit card, or other purchasing instrument, payment information encoded on the purchasing instrument is typically extracted from the purchasing instrument. For example, credit cards may include information encoded on a magnetic stripe. The information encoded on the magnetic stripe may be read when the card is “swiped” through a card reader.
After extracting the payment information, the payment information and specific transaction information is typically communicated to a transaction processing network for authorization. The specific transaction information may include a location of the sale, amount of the sale and items being purchased. The transaction processing network may electronically link acquiring banks and issuing banks.
The payment and transaction information may be submitted to the acquiring banks and issuing banks for authorization. A communication link provided by a salesperson's mobile device may be utilized to submit the payment and transaction information. For example, the mobile device may provide access to a cellular network or provide a WiFi link to a communication network.
An authorization process may include review of the purchasing instrument and transaction information. For example, the acquiring banks and/or issuing banks may review the payment and transaction information and determine whether to approve the sale. The acquiring banks and issuing banks may route their authorization decision back through the transaction processing network to the salesperson's mobile device.
Thus, there is a need to provide a mobile device that is capable of securely reading purchasing instrument information and securely transmitting the information for authorization from any customer location. Currently, add-on devices are provided that plug into a salespersons mobile device. The add-on device may plug into an available port on a mobile device.
The add-on device may include a card reader. The card reader may read data encoded on a magnetic stripe as a purchasing instrument is passed through the card reader. For example, Square, Inc. of San Francisco, Calif. provides a card reader that plugs into a headphone jack of a mobile phone. MagTek Inc., of Seal Beach, Calif. also provides a card reader under the uDynamo mark that is compatible with over 221 mobile devices. The uDynamo device is an add-on device that also plugs into a headphone jack of a mobile device.
There are disadvantages to add-on devices that plug into an available port. For example, the add-on device is typically not well integrated into a form factor associated with the mobile device. The add-on device, when plugged into the mobile device, protrudes from the mobile device and increases a size/bulk of the mobile device. Typically, a salesperson plugs in the add-on device immediately prior to accepting the purchasing instrument from the customer. Typically, the salesperson unplugs the add-on device immediately after the customer's purchasing instrument has been passed through the card reader.
Leaving the add-on device plugged into the mobile device increases likelihood that that add-on device will be damaged. For example, the connection point linking the add-on device to the port of the mobile device is not typically strong and is susceptible to breakage.
Thus, a salesperson will typically disconnect the add-on device from the mobile device after consummating a sale. Frequent plug-in and unplug activity also increases a risk of damage to the add-on device and/or the mobile device.
Furthermore, when the add-on device is plugged in to a port of the mobile device, the port cannot be used by other accessories.
It would be desirable to provide a mobile payment solution that is integrated into the mobile device. It would be desirable to provide a mobile payment solution that does not require an external add-on device to be plugged into, or unplugged from, a mobile device. It would be desirable to leverage OLED technology to provide a mobile device with an ability to capture and transmit purchasing instrument and transaction information without disadvantages of an add-on device.
Accordingly, it would be desirable to provide apparatus and methods for a foldable OLED purchasing instrument reader.